Provision For Depreciation Using Straight Line And Reducing Balance Methods - Accountsprinciplesofaccounts Jamb Past Questions and Answers

Question 26 :

• JAMB 2019

A machine cost ₦12,500 it will be kept for 4 years and then sold at a scrap value of ₦5,120. Using the diminishing balance method, what is the amount of depreciation for second year?

A. ₦5,120
B. ₦6,400
C. ₦8,000
D. ₦12,500

Question 27 :

• JAMB 2021

The formular for calculating depreciation using straight line method is


A. Cost-scrap value/useful life
B. Scrap value+sales/useful life
C. Sales-scrap value/useful life
D. Purshases+sales/useful life